Airgas Issues $400 Million of 3.05% Senior Notes Due 2020
August 06 2015 - 4:30PM
Business Wire
Airgas, Inc. (NYSE: ARG) announced today it has priced $400
million of 3.05% senior notes due August 1, 2020. The offering is
expected to close on August 11, 2015, subject to customary closing
conditions. The Company’s long-term debt is rated Baa2 by Moody’s
Investors Service and BBB by Standard and Poor’s Corporation.
The Company intends to use the net proceeds from the offering
for general corporate purposes, including to fund acquisitions, to
repay indebtedness and to repurchase shares pursuant to its stock
repurchase program. Initially, the Company expects to use the net
proceeds to repay indebtedness under its commercial paper program,
which will free up capacity thereunder to repay its $250 million
3.25% senior notes maturing on October 1, 2015.
Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, U.S. Bancorp Investments, Inc., and Wells Fargo
Securities, LLC, acted as joint book-running managers on this
transaction and representatives of the several underwriters.
The notes are being offered under an effective shelf
registration statement filed with the U.S. Securities and Exchange
Commission. The offering will be made only by means of a
preliminary prospectus supplement and accompanying base prospectus,
copies of which may be obtained by contacting: Goldman, Sachs &
Co. by phone at 866-471-2526 or by email at
prospectus-ny@ny.email.gs.com; Merrill Lynch, Pierce, Fenner &
Smith Incorporated by mail at 222 Broadway, 11th Floor, New York,
New York 10038, Attention: Prospectus Department, by phone at
800-294-1322 or by email at dg.prospectus_requests@baml.com; U.S.
Bancorp Investments, Inc., by phone at 877-558-2607; and Wells
Fargo Securities, LLC, by mail at 608 2nd Avenue, South
Minneapolis, Minnesota 55402, Attention: WFS Customer Service, by
phone at 800-645-3751 (toll-free) or by email at
wfscustomerservice@wellsfargo.com. A copy of the preliminary
prospectus supplement and accompanying base prospectus may also be
obtained at no charge at the Securities and Exchange Commission's
website, at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such jurisdiction.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of
the nation's leading suppliers of industrial, medical and specialty
gases, and hardgoods, such as welding equipment and related
products. Airgas is a leading U.S. producer of atmospheric gases
with 16 air separation plants, a leading producer of carbon
dioxide, dry ice, and nitrous oxide, one of the largest U.S.
suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals.
Approximately 17,000 associates work in more than 1,100 locations,
including branches, retail stores, gas fill plants, specialty gas
labs, production facilities and distribution centers. Airgas also
markets its products and services through e-Business, catalog and
telesales channels. Its national scale and strong local presence
offer a competitive edge to its diversified customer base.
Forward-Looking Statements
This press release contains statements that are forward looking,
as that term is defined by the Private Securities Litigation Reform
Act of 1995 or by the SEC in its rules, regulations and releases.
These statements include, but are not limited to: expectations that
the offering will close on August 11, 2015; expectations that the
net proceeds of the offering will be used for general corporate
purposes, including acquisitions, the repayment of indebtedness and
to repurchase shares pursuant to its stock repurchase program; and
expectations that the net proceeds of the offering will initially
be used to repay indebtedness under the Company’s commercial paper
program. Forward-looking statements also include any statement that
is not based on historical fact, including statements containing
the words "believes," "may," "plans," "will," "could," "should,"
"estimates," "continues," "anticipates," "intends," "expects," and
similar expressions. We intend that such forward-looking statements
be subject to the safe harbors created thereby. All forward-looking
statements are based on current expectations regarding important
risk factors and should not be regarded as a representation by us
or any other person that the results expressed therein will be
achieved. Airgas assumes no obligation to revise or update any
forward-looking statements for any reason, except as required by
law. Important factors that could cause actual results to differ
materially from those contained in any forward-looking statement
include: Airgas' ability to sell the notes; an economic downturn;
supply cost pressures; increased industry competition; our ability
to successfully consummate and integrate acquisitions; adverse
changes in customer buying patterns; significant fluctuations in
interest rates; increases in energy costs and other operating
expenses; the effect of catastrophic events; political and economic
uncertainties associated with current world events; and other
factors described in the Company's reports, including its Form 10-K
dated March 31, 2015, subsequent Form 10-Q dated June 30, 2015, and
other Forms filed by the Company with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20150806006578/en/
Airgas, Inc.Investor Contact:Joseph
Marczely, 610-263-8277joseph.marczely@airgas.comorMedia Contact:Sarah Boxler,
610-263-8260sarah.boxler@airgas.com
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